so IBM is paying THEM $1.5B to take the company???
Posted on 10/20/2014 7:58:44 AM PDT by Citizen Zed
Globalfoundries, owned by an investment arm of the government of Abu Dhabi, is taking on the unit to tap the expertise of its engineers in the fundamentals of semiconductor design and manufacturing.
In a 10-year partnership, Globalfoundries will supply IBM with Power processors in exchange for access to IBM’s intellectual property, the people said. That would allow Globalfoundries to access key chipmaking technology and guarantee supply of chips that IBM needs for its systems, like mainframe computers and its Watson data-analytics technology.
IBM will pay Globalfoundries the $1.5 billion over three years, the people said.
Globalfoundries spokesman Kevin Kimball declined to comment. James Sciales, a spokesman for IBM, didn’t return a phone call or e-mail requesting comment.
(Excerpt) Read more at msn.com ...
so IBM is paying THEM $1.5B to take the company???
Globalfoundries is the remains of AMD’s fab venture which they sold to Abu Dabi to pay their bills.
It has a broken process no one wants and is probably 5 years behind Intel.
The AG of NY decided to help bail them out by suing Intel for 1.5B for some bogus charge.
Unless LOTS of $$$ shows up, AMD is now a dead company as well as Globalfoundries.
On the surface this reminds me of the end days of Pan American Airways. They sold off all of their profitable subsidiaries in the futile attempt to save the core airline business.
I’m wondering now if this is the way IBM will finally end.
Possible but AMD right now is in LOTS of trouble on all fronts.
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